These are tough times in equity research. With MiFID II fast approaching, researchers are nearing the time when they will need to charge for their output and justify their existence through the sale of their opinions. It's all a bit scary. Some are preemptively changing jobs others seem to be looking for side-gigs to support their research income.
Guillermo Peigneux Lojo, the co-head of capital goods research for Europe at UBS may be in the latter cohort. Whilst still working for the Swiss Bank, he's launched a Swedish-based company called 'Simple Cooking', which uses 'advanced technology' and a touch screen to help people cook on Thermonix, a multi-functional kitchen appliance made by German family-owned company Vorwerk.
Guillermo didn't respond to a query about his intentions for Simple Cooking. UBS, however, confirmed that he's still working there and is currently based in the London office. It's possible that he's hoping to conquer the world with Simple Cooking. It's also possible that he's simply a keen chef and is looking to monetize his hobby.
Peigneux Lojo has spent 13 years in research, covering both fixed income and equities. Before joining UBS in 2004 he spent eight years at Morgan Stanley. He has an MBA from IESE in Spain.
UBS is reportedly planning to charge clients $40k to access basic research post-MiFID II, while Barclays is reportedly planning to charge clients $464k for its top package. UBS came third in Europe for equity research in the latest Extel ranking, up from fourth the previous year.